ABALX vs VTWNX: 19% overlap
American Funds American Balanced A and Vanguard Target Retirement 2020 share 18.8% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 3 months apart — ABALX, VTWNX as of 2026-03-31, the rest through 2026-06-30. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
You would hold two tickers and get the diversification of 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ABALX and VTWNX hold 539 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ABALX | in VTWNX | Δ |
|---|---|---|---|
| AGENCY-MBS | 2.7% | 7.2% | 4.5% |
| NVDA | 2.0% | 1.3% | 0.7% |
| MSFT | 2.0% | 0.8% | 1.2% |
| AMZN | 0.8% | 0.6% | 0.2% |
| AAPL | 0.6% | 1.2% | 0.5% |
| GOOGL | 1.7% | 0.6% | 1.2% |
| AVGO | 3.4% | 0.5% | 2.9% |
| GOOG | 1.4% | 0.5% | 1.0% |
| 2330 | 0.4% | 0.6% | 0.2% |
| MU | 1.3% | 0.4% | 0.9% |
Where ABALX and VTWNX differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | ABALX | VTWNX | Δ |
|---|---|---|---|
| Unclassified | 22.7% | 29.8% | −7.1pp |
| Information Technology | 16.0% | 10.0% | +6.0pp |
| Treasuries | 12.3% | 17.1% | −4.8pp |
| MBS Pass-Through | 2.7% | 7.2% | −4.5pp |
| Health Care | 6.7% | 2.7% | +4.0pp |
| Consumer Staples | 4.4% | 1.6% | +2.9pp |
| Communication Services | 5.1% | 2.3% | +2.8pp |
| Industrials | 6.0% | 4.0% | +2.0pp |
Δ is ABALX minus VTWNX, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
34.7% of ABALX by weight, held in no part of VTWNX.
71.7% of VTWNX by weight, held in no part of ABALX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| ABALX | VTWNX | |
|---|---|---|
| Top 10 holdings | 36.3% | 44.9% |
| Positions held | 1,439 | 7 |
| Cost per $10,000 held, per year | $56 | $8 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do ABALX and VTWNX overlap?
ABALX and VTWNX overlap 18.8% by portfolio weight — moderate overlap. They share 539 holdings. The figure comes from current issuer holdings files (ABALX as of 2026-03-31, VTWNX as of 2026-03-31).
How is the overlap between ABALX and VTWNX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If ABALX holds a stock at 6% and VTWNX holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both ABALX and VTWNX?
That depends on your goals — we state facts, not advice. At 18.8% overlap, each fund still contributes meaningfully distinct exposure.
What does ABALX own that VTWNX doesn't?
ABALX holds 1,439 positions and VTWNX holds 7; 899 of ABALX's positions don't appear in VTWNX at all, and they are 34.7% of ABALX by weight.
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Related comparisons
Sources: issuer holdings files, ABALX as of 2026-03-31, VTWNX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.